Why Renewable Energy Stocks Plunged After the Election
Renewable energy stocks have had a strong run-up in advance of the election and are sharply reversing course now that we are getting results. First Solar (NASDAQ: FSLR) was down as much as 10.9%, JinkoSolar (NYSE: JKS) dropped up to 12%, SunPower (NASDAQ: SPWR) fell 14%, and Enphase Energy (NASDAQ: ENPH) fell as much as 10.7%. At 11:10 a.m. EST, the stocks were down 9.1%, 8.3%, 8.7%, and 4.4%, respectively.
Ironically, it's not the presidential election that investors have their eyes on today. It's the Senate that has investors nervous about the future of solar energy stocks.
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Source Fool.com
